• BONDURANT, IA - AUGUST 07: Corn plants struggle to survive in a drought-stricken farm field on August 7, 2012 in Bondurant, Iowa. An exceptionally hot summer and the worst drought in more than a half century has caused cut prospects for the U.S. corn crop to a five-year low and has sent prices up to over $8.00 a bushel in late July trading. The price surge and limited supply has also prompted ethanol plants to voluntarily slow production by 20 percent, a two year low.

    The Plains states where the production of corn and soybeans is key are being hit harder by excessive drought conditions in the wake of the hottest month on record in the continental U.S., contributing to a surge in global food prices.

    LAST UPDATE : Aug 21, 2012, 11:12 AM EDT
  • A trader looks at the IBEX-35 index billboard on June 18, 2012 at Madrid's stock exchange. The rate which Spain must pay to borrow for 10 years switched direction and rose to a record above 7.0 percent in morning trading after dipping in response to the Greek election.

    Financial markets were lackluster on Thursday — what many consider the fifth anniversary of the start of the global credit crisis — despite positive U.S. jobs figures and hopes that China's monetary authorities will do more to shore up economic growth in the world's second largest economy.

    LAST UPDATE : Aug 21, 2012, 11:12 AM EDT
  • * Fiscal 4th-quarter adjusted EPS $0.32 vs Street view $0.32

    * Fiscal 4th-quarter revenue down 6.7 pct to $8.4 bln

    * $2.85 bln charge related mainly to Australian publishingunit

    * Sees high single to low double-digit op income growth inFY 2013

    By Yinka Adegoke

    Aug 8 (Reuters) - Rupert Murdoch's News Corp posteda quarterly loss on Wednesday after taking $2.85 billion ofnon-cash restructuring and impairment charges that overshadowedgrowth at its cable networks, the company's only major brightspot.

    LAST UPDATE : Aug 21, 2012, 9:19 AM EDT
  • Standard Chartered won some help from Britain's central bank governor on Wednesday in its fightback against the New York banking regulator's allegations that it had hidden $250 billion of transactions with Iran.

    LAST UPDATE : Aug 21, 2012, 7:07 AM EDT
  • The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with the situation said.

    LAST UPDATE : Aug 21, 2012, 4:21 AM EDT
  • Pfizer Inc has agreed to pay $60.2 million to settle a U.S. government probe of the drugmaker's use of illegal payments to win business overseas, government officials said on Tuesday.

    LAST UPDATE : Aug 21, 2012, 3:16 AM EDT